Otter Tail (NASDAQ:OTTR) Sets New 52-Week High – Here’s What Happened

Otter Tail Corporation (NASDAQ:OTTR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.09 and last traded at $94.6250, with a volume of 74044 shares traded. The stock had previously closed at $92.37.

Wall Street Analyst Weigh In

Several analysts recently commented on OTTR shares. KeyCorp reaffirmed a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Weiss Ratings lowered Otter Tail from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Zacks Research cut Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. UBS Group restated a “reduce” rating on shares of Otter Tail in a research note on Friday, May 29th. Finally, Siebert Williams Shank lowered shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $86.00.

Otter Tail Price Performance

The stock has a fifty day moving average of $90.26 and a two-hundred day moving average of $88.46. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 20.00 and a beta of 0.45. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.15. The firm had revenue of $334.38 million during the quarter, compared to the consensus estimate of $326.13 million. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%.The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. As a group, equities research analysts forecast that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.5775 per share. The ex-dividend date is Friday, August 14th. This represents a $2.31 annualized dividend and a yield of 2.5%. Otter Tail’s dividend payout ratio is 49.78%.

Institutional Investors Weigh In On Otter Tail

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OTTR. LSV Asset Management raised its holdings in Otter Tail by 217.6% during the 4th quarter. LSV Asset Management now owns 536,941 shares of the utilities provider’s stock worth $43,390,000 after purchasing an additional 367,869 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Otter Tail by 786.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 56,235 shares of the utilities provider’s stock valued at $4,550,000 after purchasing an additional 49,891 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Otter Tail in the 2nd quarter valued at about $7,778,000. SG Americas Securities LLC grew its position in shares of Otter Tail by 86.8% during the 1st quarter. SG Americas Securities LLC now owns 25,504 shares of the utilities provider’s stock worth $2,238,000 after buying an additional 11,850 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Otter Tail by 30.8% during the 1st quarter. Royal Bank of Canada now owns 178,161 shares of the utilities provider’s stock worth $15,637,000 after buying an additional 41,924 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.